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Wednesday, April 24, 2024
Turkiye: Development Road with Iraq to connect Basra to London, 24 APRIL
Turkiye: Development Road with Iraq to connect Basra to London
Shafaq News/ On Tuesday, Turkiye’s Minister of Transport and Infrastructure Abdulkadir Uraloğlu announced that the “Development Road” project will establish a seamless transportation route from the Iraqi port of Basra to London, spanning road and railway networks and facilitating uninterrupted trade with European countries.
Uraloğlu stated, “The signing of a quadripartite memorandum of understanding for cooperation on the Development Road project by Turkiye, Iraq, Qatar, and the UAE in Baghdad was made under the auspices of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Mohammed Shia Al-Sudani.”
Highlighting Basra’s pivotal role as a transit hub, Uraloğlu emphasized that the project will significantly reduce travel time between Asia and Europe through Turkiye.
“The Development Road projectwill enable uninterrupted transport to all European countries via a road and railway from the Basra port to London, leveraging Turkiye’s strategic location and the world’s growing trade volume.”
Anticipating a 15-day reduction in travel time compared to the Suez Canal route, Uraloğlu affirmed that the project would open new avenues for regional trade and bolster economic integration.
Earlier, Iraqi Prime Minister Al-Sudani underscored the project’s significance as a global trade corridor for goods and energy, encompassing railway lines, road networks, and energy pipelines. The project’s multi-phase approach, including capacity expansions and infrastructure enhancements, is poised to stimulate economic growth, create jobs, and attract global investments.
With an estimated value of $17 billion, the Iraq Development Road project signifies a strategic shift in regional transportation infrastructure, positioning Iraq as a vital transit center bridging Asia and Europe and fostering economic prosperity across the region.
"RV UPDATE" BY SANDY INGRAM, 24 APRIL
Sandy Ingram
When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-sandy-ingram-17-april.html
Why the resumption of oil exports through Jehan missed the table of talks with Erdogan, 24 APRIL
Why the resumption of oil exports through Jehan missed the table of talks with Erdogan
Al-Sumaria News-Economy
Attention was directed towards the visit of Turkish President Recep Tayyip Erdogan to Iraq, with great interest, to resolve many outstanding files, including the resumption of the export of Kurdistan oil and thus Kirkuk oil also through the Turkish port of Ceyhan, but nothing of this happened, in a file that was resolved internationally, but it cannot be solved locally so far, and that Turkey is no longer a party to this problem since it announced months ago that the pipe is ready to resume export, but Iraq has not resumed exports yet.
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The spokesman for the Iraqi government in the name of Al-Awadi, said on the sidelines of Erdogan’s visit in statements to reporters, that the return of oil exports fromKurdistanToTurkeyAcross the pipeline, which has been closed for more than a year, it will take longer as negotiations with the territorial government and oil producers continue.
Al-Awadi added that the conversations between companies andthe Iraqi Ministry of OilIt is likely to take some time, especially sinceBaghdadIt is working to establish a direct relationship regarding production quantities, exports and prices, explaining that there is no specific time frame to resolve negotiations with foreign oil companies in the region.
It turns out that the problem is completely limited to only two parties, notTurkeyand not a governmentKurdistanThe problem is limited betweenBaghdadAnd foreign companies operating inKurdistan, where these companies are demanding to adjust the budgeted production cost amounts.
Head of governmentMohammed Shia Al-SudanHe said a few days ago, that the cost of producing the barrel is inIraqIt’s $8, while it cost it inKurdistan$26
He explained that “we have put forward two solutions, the first to amend the contracts of oil companies inKurdistanAnd the commitments turn intoBaghdadBut it was rejected by the companies and the territorial government, so we put forward the second solution, which is to amend the budget law and amend the cost of production and the receivables of foreign companies, and that was rejected by parliament.”
"RV UPDATE" BY TEXAS SNAKE, 24 APRIL
TEXAS SNAKE
Okie had some positive news earlier today, thought we would hear some indication of the new rate when the Premier returned to his country from his visit to the US, the banker is assisting his hospitalized wife in CA so very little news from him so I guess we wait for FOREX to open, but again sports fans we appear to be very close, so say your prayers tonight.
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Texas Snake, [04/22/2024, 10:25:30 p. m.]:
About 10 more minutes then I need to close
Will try to illistrate that tomorrow
Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV
Well folks will come back with anything new GOD Bless
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